Australian inflation rate in 1941: 3.70%

Australia Inflation Calculator


Australian Inflation Rate, 1941-2018 (AU$1)

The consumer price index (CPI) in 1941 was 2.8. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.90% per year. Prices in 2018 are 3877.5% higher than prices in 1941.

In other words, AU$1 in the year 1941 is equivalent in purchasing power to AU$39.77 in 2018, a difference of AU$38.77 over 77 years.

The current inflation rate in 2018 is 1.80%1. If this number holds, AU$1 today will be equivalent to AU$1.02 next year.

Inflation from 1941 to 2018
Cumulative price change 3877.47%
Average inflation rate 4.90%
Price difference (AU$1 base) AU$38.77
CPI in 1941 2.8
CPI in 2018 111.3692

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1941

Start with the inflation rate formula:

CPI in 2018 / CPI in 1941 * 1941 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 2.8 in the year 1941 and 111.3692 in 2018:

111.3692 / 2.8 * AU$1 = AU$39.77

AU$1 in 1941 has the same "purchasing power" as AU$39.77 in 2018.

News headlines from 1941

Politics and news often influence economic performance. Here's what was happening at the time:

  • 6,000 Jews are exterminated in the Bucharest pogrom in Romania.
  • Kuomintang troops open fire at communist forces, leading to the resumption of the Chinese civil war.
  • The British battle cruiser the HMS Hood is sunk by the German Battleship Bismarck, leading to 1,416 dead and only 3 survivors.
  • Germany, Italy, and Romania declare war on the Soviet Union.

Inflation Data Source

Raw data for these calculations comes from the government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

You may use the following MLA citation for this page: “Inflation Rate in 1941 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 15 Mar. 2018,

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